LAS VEGAS-Nevada is one of several states where homebuyers are paying cash, says business-centric website CNNMoney. In June, 58% of the home sales in Nevada were made in all-cash, the site said, refrencing a a recent market report from RealtyTrac.
All-cash deals in Florida comprised 57% of home sales during the month; in the state of New York, it was 51%, and in Vermont, a whopping 80%. They are most prevalent in distressed markets, but in states like Texas, Utah and New Mexico, they are just a blip, the story said.
Nationwide, cash deals comprised 30% of home sales in June, down from 31% a year earlier, RealtyTrac reported.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
